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- Tasks: Ensure data accuracy and manage contract processes in the oil trading sector.
- Company: Join a leading oil trading and supply company based in Central London.
- Benefits: Enjoy a dynamic work environment with opportunities for professional growth.
- Why this job: Be part of a quality-driven team focused on risk management and operational excellence.
- Qualifications: Experience in contracts analysis within physical commodities, especially oil, is essential.
- Other info: Collaborate closely with colleagues and contribute to special projects as needed.
The predicted salary is between 36000 - 60000 £ per year.
Our client is an Oil trading and supply company based in Central London. We are seeking an experienced Oil Contracts Analyst with experience in the Physical Oil sector, to join the London based team. The ideal candidate will also help in driving the improvement of contract management processes and contribute to our goal of building a stable, quality-driven and control-focused contracts desk.
The role’s primary function is to ensure the integrity and accuracy of data entry and of the risk undertaken by the business via a thorough and methodical trade verification and contract review process. Attention to detail is highly relevant, as is the ability to co-ordinate multiple demands and sets of data. The role provides essential risk management and control, preserving and enhancing the company’s risk mitigation and reputation.
MAIN RESPONSIBILITIES:- Reconcile trades within the system of record and against all supporting documentation.
- Review counter party contracts and respond promptly, first addressing any trade discrepancies with internal stakeholders; for bulk cargo transactions, the main focus will be purchase agreements.
- Follow up with counter parties, and by means of purchase confirmation issuance, if purchase contracts are not received in good time.
- Manage the full contract life cycle and counter contracts to conclusion.
- Identify and mitigate risks associated with contract terms and GT&Cs.
- Manage the Confirmation process for marine bunker deals; this will consist of information gathering across multiple channels of communication, an involved verification process, trade entry validation within the system of record and documentation upload.
- Maintain a strong audit trail and document management best practice in the electronic tracking and logging of contracts and all related documents and correspondence.
- Ensure that best practice contract management is applied at all critical control points.
- Identify potential problems; address issues as they arise, monitoring and escalating where appropriate. Assist with GT&C reviews.
- Identify process gaps and assist in the implementation of process and system enhancements.
- Contribute to risk management goals and support synergies across functions.
- Contribute to the effectiveness of the team through close collaboration with colleagues and the sharing of information, skills and responsibilities.
- Special projects, as and when required.
- Experience as a Contracts Analyst within the physical commodities sector, preferably in waterborne oil contracts. Prior experience in standardised Confirmation processes a plus but not essential.
- Strong understanding of contract lifecycle management. Well versed in industry GT&Cs and Incoterms.
- Organised, with a high level of attention to detail and the ability to effectively manage conflicting priorities and deliver consistently against tight deadlines.
- Motivated by operational processes.
- Exposure to new system implementation.
- Excellent communication skills, both verbal and written.
- Proficiency in MS Office applications; intermediate or advanced Excel skills are an advantage.
Oil Contracts Analyst employer: RICHARD JAMES RECRUITMENT SPECIALISTS LTD
Contact Detail:
RICHARD JAMES RECRUITMENT SPECIALISTS LTD Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Oil Contracts Analyst
✨Tip Number 1
Familiarise yourself with the specific contract management processes used in the oil trading sector. Understanding the nuances of physical oil contracts and the associated risks will give you a significant edge during interviews.
✨Tip Number 2
Network with professionals in the oil trading industry, especially those who work as Contracts Analysts. Engaging in conversations can provide insights into the role and may even lead to referrals, which can be incredibly beneficial.
✨Tip Number 3
Stay updated on the latest trends and changes in the oil market, including GT&Cs and Incoterms. Demonstrating your knowledge of current events and how they impact contract management can set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your experience with data entry and risk management in detail. Be ready to share specific examples of how you've successfully managed conflicting priorities and maintained accuracy under pressure.
We think you need these skills to ace Oil Contracts Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in the physical commodities sector, particularly focusing on oil contracts. Use specific examples that demonstrate your understanding of contract lifecycle management and risk mitigation.
Craft a Strong Cover Letter: In your cover letter, express your motivation for applying to this role. Mention your attention to detail and ability to manage conflicting priorities, as these are crucial for the position. Relate your past experiences to the responsibilities outlined in the job description.
Highlight Relevant Skills: Emphasise your proficiency in MS Office applications, especially Excel, as well as your communication skills. These are essential for the role and should be clearly stated in both your CV and cover letter.
Proofread Your Application: Before submitting, carefully proofread your application materials. Ensure there are no spelling or grammatical errors, as attention to detail is key for this position. A polished application reflects your professionalism and commitment.
How to prepare for a job interview at RICHARD JAMES RECRUITMENT SPECIALISTS LTD
✨Showcase Your Attention to Detail
As an Oil Contracts Analyst, attention to detail is crucial. Be prepared to discuss specific examples from your past experience where your meticulous nature helped prevent errors or improved processes.
✨Demonstrate Your Understanding of Contract Lifecycle Management
Make sure you can articulate the stages of contract management clearly. Discuss how you've managed contracts in the past and any challenges you faced, along with how you overcame them.
✨Prepare for Technical Questions
Expect questions related to industry-specific terms like GT&Cs and Incoterms. Brush up on these concepts and be ready to explain how they apply to your work in the physical commodities sector.
✨Highlight Your Communication Skills
Since the role involves liaising with various stakeholders, emphasise your communication skills. Share examples of how you've effectively communicated complex information to different audiences in previous roles.
